Buy or sell: Vaishali Parekh recommends three stocks to buy today — February 26

Buy or sell stocks in Indian stock market today: After showing an excellent upside recovery from the lows on Thursday, the Indian stock market shifted into a range-bound action for the whole session on Friday and closed in the red territory. After climbing to a new all-time high of 22,297, the Nifty 50 index went off 4 points and closed at the 22,212 level, the BSE Sensex slipped 15 points and ended at the 73,142 mark while the Bank Nifty index lost 108 points and finished at 46,811 level.

Intraday trading tips for the Indian stock market today

Vaishali Parekh, Vice President — Technical Research at Prabhudas Lilladher believes that the Nifty 50 index went past the crucial 22,000 level decisively in the previous week. The Prabhudas Lilladher expert went on to add that overall Indian stock market sentiment is positive. Bagadia advised a ‘buy on dips’ strategy till the 50-stock index is above the 21,800 mark.

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On stocks to buy today, Vaishali Parekh recommended three intraday trading stocks — Jai Corp, IDFC First Bank, and Happiest Minds Technologies.

On the outlook for the Nifty 50 today, Vaishali Parekh said, “The week saw the Nifty 50 index gaining strength by recording the all-time high level to breach above the previous peak and moving past the 22,000 zone decisively has overall strengthen the bias to anticipate for further rise having targets of 22,400 and 22,800 levels in coming days with near-term support maintained at 22,000 zone.”

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“Bank Nifty has been quite underperforming as compared to the Nifty index and would need a decisive breach above the 47,400 zones to establish a conviction for a further upward move for next targets of 48,650 and 49,750 levels in the coming days,” said Parekh.

Parekh went on to add that immediate support for Nifty today is placed at 22,050 levels while the resistance would be at 22,400 levels. Bank Nifty would have a daily range of 46,500 to 47,300 levels.

1] Jai Corp: Buy at ₹338.50, target ₹355, stop loss ₹330;

2] IDFC First Bank: Buy at ₹82.85, target ₹87, stop loss ₹80.50; and

3] Happiest Minds: Buy at ₹848.60, target ₹890, stop loss ₹830.

Disclaimer: The views and recommendations above are those of individual analysts, experts, and broking companies, not of Mint. We advise investors to check with certified experts before making any investment decisions.